Cancer Biomarkers Market Size, Share, Growth Analysis, By Profiling Technology(Omics Technologies [Proteomics (Immunoassays, Mass Spectrometry, 2D Gel Electrophoresis, Protein Microarrays), By Cancer Type(Non-Hodgkin's Lymphoma, Breast Cancer, Lung Cancer, Colorectal Cancer), By Product(Instruments [Imaging Instruments, Pathology-Based Instruments, Biopsy Instruments], Consumables [Antibodies), By Application(Diagnostics, Research & Development, Prognostics, Risk Assessment), By End User(Diagnostic Laboratories, Biopharmaceutical Companies and Cros, Research and Academic Institutes, Other End Users), By Region - Industry Forecast 2024-2031

Drivers

Rising Incidence of Cancer 

• Poor lifestyle choices and growing adoption of unhealthy habits have significantly increased the number of people suffering from cancer. This surge in incidence of cancer around the world is a key factor promoting cancer biomarker demand as they play a vital role in cancer diagnostics as well as treatment.

Rising Use of Liquid Biopsies 

• Liquid biopsies that can detect cancer biomarkers in blood, urine, or other bodily fluids are being extensively used for non-invasive cancer diagnostics and this is projected to primarily augment the demand for cancer biomarkers over the coming years. High preference for non-invasive and minimally invasive procedures will also favor cancer biomarkers market growth in the future.  

Restraints 

Ethical and Privacy Concerns 

• Cancer biomarkers are often derived from genetic and molecular data of a patient, which reveals more information about a person than just biomarkers. Concerns regarding the privacy of this molecular data and its usage are estimated to slow down the demand for cancer biomarkers over the coming years. 

Lack of Reproducibility and Clinical Viability 

• Maintaining reproducibility and clinical viability of biomarkers across diverse patient populations is not possible as the results depend on multiple factors such as ethnicity, stages of cancer, and types of cancer. This variability is forecasted to inhibit cancer biomarkers market growth potential across the forecast period and beyond.